High-end sports brand Lululemon's rapid market capitalization exceeded $10 billion for the first time
Lululemon Athletica Inc. (NASDAQ:LULU) The holiday season sales growth after Tuesday was higher than market expectations. The North American high-end sports and casual apparel retailer also expects double-digit growth this quarter, stimulating the stock price to rise sharply after the market. 9.8% to 86.4 US dollars, a record high.
In the fourth quarter ended Jan. 28, Lululemon Athletica Inc. achieved an 11% comparable sales growth, far exceeding Consensus Metrix's overall forecast of 8.6%, with fixed exchange rate same-store sales up 2% and e-commerce up 42%. .
The group is driving performance growth through product innovation, international expansion and increased male customers, and the fourth quarter data demonstrates that the strategy works. Revenues for the holiday season of $928.8 million increased significantly by 17.6% over the same period of the previous year, and the fixed exchange rate also increased by 16%. The market forecasted revenue was $912.4 million. The profit margin also improved significantly. The gross profit margin increased by 210 points to 56.3%, and the operating profit margin recorded an increase of 270 basis points, reaching 27.6%.
Net profit fell 12% year-on-year to $119.8 million and EPS fell from $0.99 to $0.88 due to the one-time expenses generated by the girl brand ivivva restructuring and US tax reform. The adjusted EPS was $1.33, which was better than the market expectation of $1.27.
Management expects that the current first quarter of FY18 will continue to achieve comparable sales growth of 11%-13%, revenue will be between 6.12-6.17 US dollars, EPS guidance is 0.44-0.46 US dollars.
Such a strong performance and a positive outlook for the outlook eased the market's worries that Lululemon Athletica Inc.'s sudden loss of CEO would disrupt the momentum. In February of this year, Laurent Potdevin, the CEO who led the group out of the “transparent yoga pants†quality crisis and re-emerged, suddenly resigned because of the relationship and interest transfer involved with female designers. At present, the group's affairs are headed by Glenn Murphy, executive chairman and former CEO of Gap Inc. (NYSE:GPS) Gay Group. He revealed in the post-financial conference call that he had interviewed "a few great candidates" but they Plan to spend some time interviewing as many people as possible before making the final decision. Analysts also believe that the group can easily attract high-quality talent to join.
Lululemon Athletica Inc.'s full-year revenue for the fiscal year 2017 increased 13% year-on-year to $2.6492 billion, compared to $2,344.4 million in fiscal 2016. Net profit decreased by 14.7% year-on-year to $258.7 million, and EPS fell from $2.21 to $1.90. Adjusted EPS was $2.59, an increase of 21% from $2.14 in 2016.
Management expects revenue in FY 2018 to reach $3 billion, and EPS will rise further to $3.00-3.08. Chief Operating Officer Stuart Haselden said in his earnings report that with the strong momentum of all businesses in 2018, the group has further narrowed its target of $4 billion in revenue in 2020, while the international market business target is $1 billion. Many analysts believe that the group has sufficient growth potential to achieve this goal.
B. Riley's research report in the middle of this month indicated that Lululemon's fashion and leisure sports are still flourishing. In contrast, pure sportswear still seems to be in recession. This is also the Lululemon Athletica Inc., Adidas AG (ADSGn.DE) Adidas Group. Puma SE (PUMG.DE) Hummer can get the market, and Under Armour Inc. (NYSE: UA) Anderma is downhill.
Research firm MKM Partners also pointed out last week that not only do men drive the growth of Lululemon Athletica Inc.'s customers, but more and more female new customers have begun to help in the past few months.
As of February 28, 2018, Lululemon Athletica Inc. had 404 direct-operated stores worldwide, adding 49 stores during the year and closing 48 of the brand stores due to the restructuring of Ivivva.
Lululemon Athletica Inc. (NASDAQ:LULU) fell 2.03% on Tuesday, following a broader market decline, at $78.71, with a market capitalization of about $10.5 billion. Since 2018, the stock has fallen by 1.2%, and in 2017 it has increased by 21%.
Source: No fashion Chinese network
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